| COMPANY |
Bausch Health Companies Inc. |
| COURT |
United States District Court for the District of New Jersey |
| CASE NUMBER |
23-cv-03996 |
| JUDGE |
The Hon. Zahid Nisar Quraishi |
| CLASS PERIOD |
May 7, 2020 through June 8, 2023 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Bausch Health Companies Inc. (“Bausch”) (NYSE: BHC) securities between May 7, 2020 and June 8, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the B+L spinoff would not result in two strong separate companies; (2) without B+L, Bausch was left overly leveraged and without the cashflow generated by B+L; (3) distribution of the B+L spinoff shares would not occur as represented; (4) the above statements omitted and/or concealed the potential damages Bausch faced from the Opt-Out Plaintiffs; (5) the spinoff was not intended to benefit Bausch shareholders but instead designed to subvert the Opt-Out Plaintiffs’ lawsuit against the company; and (6) as a result, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On January 19, 2024, Lead Plaintiff filed an Amended Complaint. Defendants filed a Motion to Dismiss on July 9, 2024. The Motion has been fully briefed by the parties and is awaiting the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.